Drug Makers, Universities Team Up on Stem Cells

By

Jeanne Whalen

Dec. 5, 2012 2:11 p.m. ET

Ten drug companies and 23 universities are banding together to create one of the world's largest repositories of adult stem cells, which they aim to use to develop new drugs for difficult-to-treat diseases such as dementia and diabetes.

Roche Holding AG and Oxford University are leading the €56 million, or about $73 million, project, called StemBANCC, with funding from the European Commission, industry and others.